Ripple CEO Brad Garlinghouse announced at XRP Las Vegas that the CLARITY Act will pass by the end of May, the third public deadline for the bill after forecasting 80% odds of April passing on Fox Business in February and reviewing it through May in two consecutive industry events.
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- Garlinghouse first gave 80% odds for April pass on Fox Business on February 19, revised it to the end of May at the Future Investment Initiative’s Priority Summit in Miami on March 27, and reaffirmed the end of May at the Semaphore Global Economy Summit on April 13.
- He says the stablecoin yield dispute that has paralyzed the bill since January is close to being resolved, and that the current level of frustration in Washington is historically a sign that compromises have finally been reached.
- Senator Thom Tillis confirmed that he will ask Banking Committee Chairman Tim Scott to set a date for a rate increase when the Senate returns on May 11, with the earliest realistic date for a committee vote also being the week of May 11.
Brad Garlinghouse confirmed the CLARITY Act timeline for the end of May at XRP Las Vegas on April 30, three months after first laying out the 80% probability in April during an appearance on Fox Business. Banking disruption I mentioned Garlinghouse is betting that the bill clears the Senate Banking Committee, passes the Senate floor, and reaches Trump’s desk before the May 21 Memorial Day holiday. “When people reach the peak of frustration, that’s when they finally compromise and it gets done. I think we’re getting there,” Garlinghouse said.
Such as crypto.news I mentionedThe 2030 cliff isn’t just Garlinghouse’s frame — Senator Cynthia Lummis posted on X in April that this is “our last chance to pass the Clarity Act until at least 2030.” Senator Bernie Moreno said the same thing more directly. Both senators framed the window as uniquely narrow because the current consensus between the three branches of the House, Senate, and White House on cryptocurrency legislation is rare and may not survive the midterm elections. Garlinghouse’s reviews are not contradictions. As the bill missed successive deadlines, its support increased. The coalition supporting the bill has expanded to include more than 120 companies including Ripple, Coinbase, Kraken, and Andreessen Horowitz. Such as crypto.news Notarizedthese companies sent a joint letter demanding an immediate bonus on April 23.
Garlinghouse described the stablecoin yield dispute that has blocked the bill since January — a fight over whether third-party platforms can offer rewards on stablecoin balances — as largely resolved following a White House CEA report that found a full yield ban would cost consumers $800 million annually. What remains is a calendar issue: The Senate returns on May 11, the Memorial Day recess begins May 21, and Chairman Tim Scott has yet to set a specific date on the calendar. Such as crypto.news trackingPolymarket prices for 2026 at around 46%, Galaxy Research at 50-50, and TD Cowen at one in three – putting Garlinghouse’s end-May forecast noticeably far from the market consensus.
